USDA Announces Funding Opportunity for RMAP

The U.S. Department of Agriculture has posted a Notice of Funds Availability (NOFA) for loans and grants under the Rural Microentrepreneur Assistance Program (RMAP) for FY2014. A total of $25.4 million is available under the following breakdown:

Loans: $23.9 million

Microlender TA Grants: $1.5 million

The minimum loan amount a microbusiness development organization (MDO) may borrow under this NOFA is $50,000 while the maximum is $500,000.

Completed applications must be received by the USDA no later than June 30, 2014.